2649385 Ontario Inc. entered into a non-binding letter of intent to acquire Xander Resources Inc. (TSX-V:XND) in a reverse merger transaction.
The closing of the transaction is conditional upon the parties negotiating and entering a definitive agreement in respect of the transaction on or before March, 30, 2019, satisfactory completion of due diligence, approvals and authorizations including any applicable shareholder approval of Xander Resources Inc. and 2649385 Ontario Inc., approval by TSX Venture Exchange, satisfaction of any TSX Venture Exchange requirements, including but not limited to the receipt of audited consolidated financial statements of 2649385 Ontario Inc., Xander Resources Inc. having completed a name change to Cordoba Mining Ltd. or such other name as determined by 2649385 Ontario Inc. and closing of a concurrent private placement of resulting issuer shares for gross proceeds of no less than CAD 1 million at a price of CAD 0.10 per share. As of January 31, 2020, the closing of the transaction is subject to Xander Resources Inc. having completed a name change to Merida Minerals Inc."